The HUF has been above 400 in the last few weeks euóval on the other hand, he also tasted 402 for a few days. Last week, MNB Vice President Barnabás Virág said at the Portfolio conference that the interest rate can remain unchanged not only in October, thereby giving strength to the forint. The Hungarian currency temporarily strengthened below 400, but eventually returned above the important level.
The subscription starts this week just above 400.
On Monday morning, HUF 400 will cost 10 fils to the euro, so far this does not mean a change compared to Friday’s level.
The dollar is strengthening this morning, which typically does not bode well for emerging currencies. The quotation is above 1.085 against the euro. The European Central Bank last week one peel cut implemented, which strengthened the euro somewhat, but this effect does not seem to be lasting.
A with dollars on the other hand, the forint weakens by definition. The Hungarian currency depreciated by 0.1% against the dollar this morning, one dollar is now worth HUF 368 and 60 fils.
There will be important events this week as well. From the point of view of the forint, Friday’s credit rating will be decisive, Standard&Poor’s will give its verdict on Hungary. The MNB’s interest rate decision tomorrow would also be important, but the central bank has practically already announced the move in advance, so we will hardly see any surprises here. In addition, it will be worth looking at the European purchasing manager indices, which may affect the HUF through the international sentiment, as the prospects for Europe are currently exciting investors.
The cover image is an illustration. Cover image source: Portfolio
Source: www.portfolio.hu
